This is not only demagoguery but irresponsible. For every dollar cut today, in view of the indebtedness of New Jersey, we will have to pay ten-fold tomorrow.
The proposed tax cut is only a fraction of the increases we have seen in property taxes.
Just last week, the treasurer of New Jersey revealed that tax receipts are off by 7% in the first fiscal quarter this year. Even if the deficit was caused by the weather, the governor’s claim that coffers are overflowing with money is a figment of his imagination.